Its aim was to combat deflation, which Japan has struggled with for nearly two decades, as well as boost demand and investment. It also wanted to weaken the yen, so helping big exporters like Toyota become more competitive.

But growth has remained a concern. Analysts say Japan needs to ensure exports grow in order to support future economic growth - for every 1% that Japan's economy grows, between 0.5 and 0.7% comes from exports.

The country also relies heavily on domestic consumption but its population is ageing and shrinking so fewer people are contributing to the economy.

Analysis: Rupert Wingfield-Hayes, BBC News, Tokyo

There has been a lot of hyperbole surrounding the Abenomics project.

The Bank of Japan's vast money printing project has been described as a "money-spewing bazooka".